Regulatory Alerts2018-10-01
PA-SARB-NCR Memorandum of Understanding
The South African Reserve Bank, the Prudential Authority, and the National Credit Regulator have entered into a Memorandum of Understanding to formalize their statutory cooperation and collaboration under the Financial Sector Regulation Act. The agreement mandates mutual assistance, information sharing, and coordinated regulatory strategies to maintain financial stability and address systemic risks. It establishes specific protocols for licensing, inspections, enforcement, and the resolution of systemically important financial institutions to minimize regulatory duplication and ensure consistent oversight.
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